Financial Management

Financial Management involves managing the budgeted, forecasted, planned, and actual costs of an organization by strategy, project or task, service, application, or asset. It consists of multiple capabilities, including Financial Planning to budget and forecast costs and benefits, and multi-currency to manage financials in a variety of currencies.

Financial Planning involves planning, estimating, and tracking the expected costs and benefits of a given entity, whether it is a project, strategy, asset or application, product, organization, or service. It consolidates both budgeting and forecasting concepts into a periodic process managing financial data.